SG Americas Securities LLC Reduces Stake in SBA Communications Corporation $SBAC

SG Americas Securities LLC cut its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 50.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,104 shares of the technology company’s stock after selling 3,187 shares during the period. SG Americas Securities LLC’s holdings in SBA Communications were worth $729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. NorthCrest Asset Manangement LLC raised its holdings in SBA Communications by 3.0% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock valued at $359,000 after buying an additional 44 shares during the period. Janney Montgomery Scott LLC boosted its stake in SBA Communications by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after buying an additional 46 shares during the period. Advisors Asset Management Inc. increased its position in SBA Communications by 5.6% during the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock valued at $194,000 after acquiring an additional 47 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of SBA Communications by 20.0% in the second quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after acquiring an additional 50 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of SBA Communications by 8.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 832 shares of the technology company’s stock worth $195,000 after acquiring an additional 62 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $193.09 on Tuesday. The firm has a 50-day simple moving average of $194.98 and a 200-day simple moving average of $214.03. SBA Communications Corporation has a one year low of $185.45 and a one year high of $245.16. The firm has a market cap of $20.57 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.01 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.09. The company had revenue of $732.33 million for the quarter, compared to analyst estimates of $715.65 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. SBA Communications’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $3.32 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. On average, research analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 13th will be paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, November 13th. SBA Communications’s dividend payout ratio is 57.89%.

Analysts Set New Price Targets

Several brokerages recently commented on SBAC. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th. Bank of America cut SBA Communications from a “buy” rating to a “neutral” rating and cut their target price for the company from $260.00 to $230.00 in a research note on Wednesday, August 27th. The Goldman Sachs Group reduced their price target on SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Citigroup dropped their price objective on SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Finally, Barclays cut their price objective on SBA Communications from $226.00 to $219.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and an average price target of $238.06.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.